O papel dos instrumentos gestão e de governança no score de segurança hídrica das empresas do BRICS

Abstract

This research aimed to investigate the influence of management and governance tools on the performance of the water security score of companies in Brazil, Russia, India, China, and South Africa - BRICS. When analyzing the water security score reports, 3033 observations were found, over a time span of 5 years (2017 to 2021). For statistical analysis, observations without disclosed scores were excluded, leaving 1780 observations from 583 companies. The descriptive analysis of the data found that 59.94% of the companies responded to the Carbon Disclosure Project – CDP questionnaire. However, of the 1818 reports responded, 1223 did not have their scores publicly disclosed. It was found that a reduced number of BRICS companies achieved the maximum score (A). The significant presence of score F was observed, indicating that there is much room for improvement in the transparency of the water management of the companies in the sample. The descriptive data also showed that countries classified as having an authoritarian bias performed worse than countries with a democratic bias. For the hypothesis test, Panel regression was used, whose model obtained global significance. The R-square of the model indicated that 19.1% of the variations in the dependent variable are explained by the independent variables of the model. The result showed that the presence of non-executive directors on the board, the existence of sustainability performance incentives, the existence of water efficiency goals, and ownership structure are positively associated with the performance of companies in the water security score. The variable existence of a sustainability committee, as well as, the recycled water score showed a negative association with the performance of companies in the water security score. The variables number of independent directors on the board, existence of six sigma, and existence of water technology did not show statistical significance. This study provides insights for managers, public policy makers, and stakeholders interested in promoting sustainable practices in water resource management, considering that it points out the management and governance tools that contribute to improving the performance of the companies that made up the sample. It is known that water security is a critical issue that has global relevance. In this sense, transparency and effectiveness in water management are essential for social well-being, and the research points to the adoption of practices that can contribute to the efficiency in the water management of companies, which may imply an improvement in social well-being.